Refer to Table 5.1. If the six people listed in the table are the only consumers in the market and the equilibrium price is $11 (not the $8 shown), how much consumer surplus will the market generate?

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$3

Feedback:Consider the following table
as an example:

Using the values above, and assuming an equilibrium price of $11
(not the $8 shown), we first note that an individual will only
purchase the good if his or her "maximum price willing to pay" is
greater than or equal to the price of the product ($11). This
implies that only Bob, Barb, and Bill are willing to purchase the
good at the price of $11.

Now we can calculate the consumer surplus by adding up the
difference between the "maximum price willing to pay" and the
actual price paid.